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Japan tries to reclaim its clout as a global tech leader

Economic TimesEconomic Times · 3m
Japan tries to reclaim its clout as a global tech leader

China's success in using industrial policy to expand its economy and finance green manufacturing has sparked a competitive scramble among nations to protect their own businesses. Japan, which experienced similar anxieties about a rising Asian power in the past, is now implementing its own industrial policy to revive its economy and regain its position as a tech innovator. Japan's focus is on advanced technologies, particularly semiconductors, and it is collaborating with international partners to achieve its goals. The government is providing substantial financial support to companies involved in semiconductor production. This approach sets Japan apart, as it already has a history of successful industrial policy implementation.

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